PENN Entertainment (NASDAQ:PENN) Downgraded to "Sell" Rating by StockNews.com

PENN Entertainment (NASDAQ:PENN - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Friday.

A number of other equities research analysts have also weighed in on the company. Barclays decreased their target price on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, November 8th. Mizuho reduced their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. Macquarie increased their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Truist Financial lowered their target price on PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $23.44.

PENN Entertainment Price Performance

PENN traded down $0.33 during trading on Friday, reaching $20.13. 2,661,971 shares of the company traded hands, compared to its average volume of 6,441,027. The company has a market cap of $3.07 billion, a P/E ratio of -5.67, a PEG ratio of 1.27 and a beta of 2.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $24.57. The firm has a fifty day simple moving average of $19.95 and a 200 day simple moving average of $19.35.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company earned $1.21 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that PENN Entertainment will post -1.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in shares of PENN Entertainment by 4.2% in the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company's stock valued at $235,000 after buying an additional 497 shares during the period. Westside Investment Management Inc. lifted its holdings in PENN Entertainment by 3.2% in the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company's stock valued at $393,000 after acquiring an additional 620 shares during the period. XTX Topco Ltd lifted its holdings in PENN Entertainment by 2.8% in the third quarter. XTX Topco Ltd now owns 23,362 shares of the company's stock valued at $441,000 after acquiring an additional 641 shares during the period. Nisa Investment Advisors LLC boosted its position in PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company's stock worth $328,000 after purchasing an additional 665 shares in the last quarter. Finally, New World Advisors LLC grew its stake in shares of PENN Entertainment by 7.5% during the 3rd quarter. New World Advisors LLC now owns 15,800 shares of the company's stock worth $298,000 after purchasing an additional 1,100 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.